An unnamed institution is suspected of selling about 154,300 ETH, worth approximately $378 million, after transferring 52,739 ETH valued at around $129 million to six centralized cryptocurrency exchanges, including Binance and OKX, over more than a day. The wallet still held 101,561 ETH, worth about $249 million. Ember Monitoring said the ETH was withdrawn from Coinbase in 2021 and 2022 at an average price of about $1,700, used for staking (locking crypto to earn rewards) in 2023, and redeemed in January 2025 before being consolidated and moved to centralized exchanges recently.